Required information Melissa, Nicole, and Ben are equal partners in the Opto Partnership (calendar year-end). Melissa decides she wants to exit the partnership and receives a proportionate distribution to liquidate her partnership interest on January 1. The partnership has no liabilities and holds the following assets as of January 1

Week Four Chapter 10 Sa.ed Help s 6 FUO IV HUVUDO VITU VIVO UTO IVIIVITY LOGO UOVI JUTTUULY Tax Basis FMV $19,440 $ 19,440 @ 25,922 9,460 14,499 34,00 $62,700 $105, 362 Cash Accounts receivable Stock investment Land Totals Part 3 0.52 ports Melissa receives one-third of each of the partnership assets. She has a basis in her partnership interest of $28,120. (Leave no answer blank. Enter zero if applicable.) cBook c1. What is the amount and character of Melissa's recognized gain or loss if her outside basis is $12.440 rather than $28,120? c2. What is Melissa's basis in the distributed assets if her basis in Opto Partnership is $12,440 rather than $28,120? Print Complete this question by entering your answers in the tabs below. References Reg CI Reacz What is Melissa's basis in the distributed assets if her basis in Opto Partnership is $12,440 rather than $28,120? (Round your Intermediate and final answers to the nearest whole dollar amount.) Basis $ 12.4.40 Cash Accounts receivable Stock investment Land